Crailar counts cost of European expansion - sportstextiles: Lea SportsTextiles

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Crailar counts cost of European expansion

19/05/2014
US-based flax producer Crailar has reported a loss for the quarter ending March 29 but said this was due to significant investments in its production. The European facility it purchased in December commenced production and shipping.

“The necessary equipment to bring the Crailar process in-house is expected to be operational by the end of the second quarter. Once installed and ramped up, this equipment is expected to eliminate outsourcing costs. Additional equipment to provide energy, chemical and labour savings is scheduled to be installed and operational by the end of the third quarter,” said the company.

For the three months, Crailar - in which adidas and Ikea have invested - saw sales of $400,000 and a net loss of $2.6 million.

Crailar CEO Kenneth Barker said: "Customer feedback continues to be very positive; our customers are increasing the blend levels in their products; and we are receiving 2015 order forecasts in excess of our current capacity. We are also excited by the hemp opportunity, a great fibre for denim and durable fabric applications."



Related stories:

Crailar sells Belgian plant to reduce overheads 04/09/2015
Crailar forms committee to weigh its financial options 03/06/2015
Farmers' cooperative deal could push Crailar into profitability 22/05/2015
Crailar confident despite $8m Q4 loss 16/04/2015
New applications for flax in sports products 09/03/2015
Crailar’s CEO resigns after more technical hitches 17/11/2014
Air quality issues mire Crailar’s progress 13/08/2014
European consumers confused about flax 17/07/2014
Adidas shows faith in Crailar with board seat 27/06/2014
Adidas and Ikea support loss-making Crailar 31/03/2014
FabricLink names top textile innovations of 2013 20/03/2014
Crailar gains favourable customs ruling 10/02/2014
Crailar moves to acquire European dyeing facility 06/09/2013
Crailar joins sustainable apparel coalition 28/05/2013
Crailar chooses new chief financial officer 04/03/2013
Crailar secures extra funding and signs deal with Cotswold 13/02/2013
Crailar begins flax fibre production in the US 17/01/2013

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